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泡泡玛特（Pop Mart）2026年1月现状速览 作为Labubu（拉布布）背后的全球潮玩巨头，泡泡玛特正从2025年的“爆款狂飙”转向可持续全球化阶段。 • 股价动态：港股代码09992，近期震荡反弹，1月6日左右一度涨4.49%报205港元（当前约196-205港元区间），但较8月历史高点339.6港元仍回调超40%。机构如花旗维持“买入”、目标415港元，大摩“增持”325港元，看好IP多元化。 • 业务亮点：海外扩张猛烈！新增墨西哥、柬埔寨、印尼生产基地，降低物流成本、满足北美需求。加拿大温哥华首店开业两天引发抢购热潮，海外营收占比已超40%。